Niche developer Matrix Concepts posts 24.5% rise in Q3 earnings
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Kuala Lumpur
BUCKING the trend among its peers, Malaysian property developer Matrix Concepts Holdings reported a 24.5 per cent jump in third-quarter earnings to RM45.1 million (S$17.5 million) on the back of RM149 million in sales. For the nine months to end-September 2014, the developer's earnings rose 13 per cent to RM126.1 million.
Matrix Concepts' relatively robust performance indicates that niche developers such as Matrix, which concentrate on affordable housing and the development of industrial land, are just as good an investment as those big-capitalisation developers that get all the analyst and media attention.
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